Kraken Fidor bank, CRS?

[fuorissimo]

Hello, i see that Kraken, for EUR users, use Germany bank Fidor.

When i sell my crypto, and FIAT are on my account, are stored in that bank account. At this point i'm under CRS?

Im considering to switch my personal account to offshore account, before sell my crypto.

 

[Martin Everson]

fuorissimo said:
When i sell my crypto, and FIAT are on my account, are stored in that bank account. At this point i'm under CRS?
Click to expand...

Yes if you are resident in a CRS country.

fuorissimo said:
Im considering to switch my personal account to offshore account, before sell my crypto.
Click to expand...

Has to be a non-CRS country bank or your still reported.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[fuorissimo]

Wait, maybe i write not clear.

Kraken user account, dont have personal bank account for each user. But is account where Kraken store all FIAT users.

So, bank account is at name of Kraken, not mine. Its strange that can be under CRS.

I also read that Exchange are not still under CRS. Consider also that Kraken Is US based.

 

[Martin Everson]

fuorissimo said:
Wait, maybe i write not clear.

Kraken user account, dont have personal bank account for each user. But is account where Kraken store all FIAT users.
Click to expand...

Ahh ok I misunderstood the fiat account part. Hummmm.....interesting question. I don't have the answer to that. Have you asked them directly?

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[fuorissimo]

Im waiting a reply. They have a very fast support service.

This info Is vital for me, because i Need to convert my personal account to professional, sell Btc and withdraw on non CRS off-shore bank account.

 

[LucyOffshore]

@fuorissimo you got any answers from them?